Necessary for bookkeeping

 Necessary Information related to bookkeeping

(1) In order to prevent frouds, errors or wastes, s to keep supervision over the business activities.

Asscerteining Sale price 

Whenever the existing business is to be sold the sale price of the business can easily be ascertained.

Payment of Income Tax : 

If proper and setisfactort accounts are not maintain, the correct assesment tax will not be possible.

Insolvancy cost 

At the time of insolvency, the cost may deel the cases leniently if proper accounrs are mentioned. 

Complet Records 

Record complete transection 

Check on Arithmetical Accuracy : It provide a check 

Detailed Available : 

With the help of thes accounts , ditails with regards to any accounts are easily available.

Froud are Detected :  since the system is

Very much scientific, the chance of froud are minimised 

Profit and loss be asscertained   

Balance sheet =

 showing the actual ammount  of capital invested and the assets and liabilities.